Iran plans to increase natural gas exports

Iran plans to increase its natural gas exports to 10 billion cubic meters per year, says an Iranian official.

Hassan Montazer Torbati, the planning director of the National Iranian Gas Company, said Saturday that Iran’s annual gas output will increase by up to 100 million cubic meters by March 2015, Shana news agency reported.

The official said the National Iranian Gas Company is preparing the required infrastructure for the export of gas to Iraq, Persian Gulf states and Europe.

Iran, which sits on the world’s largest gas reserves, intends to enhance gas production by increasing foreign and domestic investment, especially in its South Pars gas field.

The field is located in the Persian Gulf on the border between Iran and Qatar.

In early September, Iran launched the largest gas storage facility in the Middle East in the northeastern province of Razavi Khorasan. The facility has a capacity of storing 4.8 billion cubic meters of natural gas.